How to Choose the Right Letting Agent as a New Landlord

How to Choose the Right Letting Agent as a New Landlord

Renting your property can be an overwhelming experience, with the amount of administrative tasks involved and legal compliance you need to meet. Fortunately a good letting agent can smooth the entire process, making it easy and hassle free.

But with so many letting agents on the market, how can you be sure you’re picking the right one? It’s important to find a trusted and credible firm to handle your property portfolio. It’s also important to find one that’s most suitable for your needs – every landlord’s situation and requirements are different and not all letting agent service offerings will be the right for you.

Read below to find out our advice for picking the letting agent that’s best suited to you:

Top Tips For Choosing Your Letting Agent

Pick A Letting Agent Close To The Property
If you don’t live in the same area as your rental property, it may be tempting to find yourself a letting agent near to you, but it’s actually much more efficient to choose a letting agent near the property. They’ll need to be on hand, show tenants round, deal with tenant issues and, in some cases, send maintenance teams out to the property. If you pick a letting agent that isn’t local to the property they won’t be able to service the property as responsibly and may have to outsource some tasks, all of which lead to an increased risk of issues arising, miscommunication or unsatisfied parties.

Make Sure They Offer The Right Service Level For You

There are several different service tiers offered by most letting agents to landlords, depending on how involved you want to be with the rental process. Typically the letting agent will deal with Full Management, which means they take responsibility for every stage of the management process including collecting rent, dealing with maintenance and repairs and property issues. With this overall management, you should only be contacted if a decision is needed to be made that is outside the agent’s authority. For more experienced landlords, there are other service options including tenant-find or tenant-find and rent, which leaves most of the day-to-day management up to you. Check out what’s included in your service package before picking the letting agent.

Get Advice From A Pro-Active Letting Agent

For first-time landlords the thought of all the paperwork and administration can be overwhelming. There’s lots to sort out, like landlord’s insurance and fire safety measures. Find a letting agent that is pro-active in advising you on issues like this and who genuinely cares about your service. Helpful letting agents show that they value your custom, and are invested in building a long-term relationship with you.

Check Out Their Marketing

You don’t want your property to be sitting empty for a long period of time, so ensure that the letting agent is proactive with their marketing efforts. Are they advertising listings on the main property portals? Do they have listings on display prominently in their windows and within the local community? Do they have an active social media presence?

Ask For A Realistic Expectation

It’s perfectly fine to ask the letting agent what they expect your property to earn. They’ll likely have similar properties on their books currently, or have rented them in the past, and can give a realistic figure of expected earnings. They may also be able to tell you if they have any tenants currently waiting for a home that fits the description of your property.

Make Sure They Comply With Deposit Laws & Money Protection

Your agent should comply with the relevant laws for the safe handling and storage of money. They should be registered with a government approved tenancy deposit scheme and a client money protection scheme. They should be able to demonstrate both of these when asked. These measures will ensure you’re protected legally and in cases like fraud, you won’t be left out of pocket.

Check That They Have Professional Indemnity Insurance

Professional Indemnity Insurance will cover the letting agent against the chance of being sued, which could impact you negatively and put your finances at risk if it occurs at a time when you’re letting your property through them.

Place Importance On The Maintenance Of Your Property

Every property is subject to general wear-and-tear, but it’s important to check that your home is being looked after correctly by the letting agents. A good agent will schedule regular inspections to ensure the property is being cared for by the tenants. They should also have a list of recommended tradesmen to carry out any repairs needed. Usually you’ll be able to agree a recommended allowance for them to make repairs, such as electrician or plumber services, without having to contact you.

Choose A Personable Agent

You’ll be working in partnership with these people, so it makes sense to get on! The attitude and general demeanour of your letting agent goes a long way – choosing a highly personable agent will mean that you always feel comfortable and enjoy interactions with the firm, which is vital – particularly if you’re a first time landlord that may need that extra reassurance or information at the beginning. Check out some of their client testimonials to find out how other landlords’ experiences have been with the firm.

Book An Appointment With Affitto.

We are a letting agency based across the midlands,  that offer a friendly and enthusiastic approach – providing landlords with a ‘one stop service’ that encompasses every aspect of letting and management.

At Affitto, our comprehensive property listings include high-quality photography taken by our in-house experts. Our reputation as a friendly and professional estate agency is based on keeping our customers informed and making sure that the best price is achieved for landlords.

Want to find out more about how we can help you? Book an appointment today by calling 0800 043 7368 or emailing info@affittoea.co.uk.

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